This week, real estate platform Compass raised $370 million in a deal that increases the brokerage's valuation to $6.4 billion.
This round includes new investor Dragoneer Investment Group, which has invested in companies like Slack, Uber and DoorDash, as well as long-time partners such as the Canada Pension Plan Investment Board and the Softbank Vision Fund.
Dragoneer's involvement in the recent round of funding may be a sign the brokerage firm is considering a public offering in the near term.
Founder & Executive Chairman Ori Allon noted that raising the funds helps the company to expand its Concierge program, which assists sellers with funds to update and stage their home for potential buyers.
The Series G funding is a huge uptick for the company that had been valued at $4.4 billion less than a year ago. Part of the reason has been the company's enormous growth, with revenues up 250% compared to Q2 2018. They've since expanded to approximately 13,000 agents nationwide.
"From day one we knew, when we had just a small amount of people at the company, we had a very clear focus," Allon says in an interview.
"We wanted to bring more tech and data and transparency to real estate, and I think it paid off. We are excited to partner with new investors, and deepen our relationship with our existing partners to accelerate our growth and further our technology advancements."
Compass Concierge lets you easily prepare your home for sale by fronting the cost of home improvement services like staging, painting, and more. Let us help you sell your home faster and for more money.
No hidden fees, no interest charged - ever.